Online lenders risk being China's next bubble
Though online finance is smaller than the equity market, the industry is growing along with its exposure to risky investments
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Beijing
WITH no sense of irony, China's online finance platforms are marketing themselves as a haven from gyrating stocks just as ratings companies warn the industry is brittle and failures could cause investors losses.
Among market leaders, Renrendai.com said in a text message to users that its service, which links lenders to buyers of furniture or entrepreneurs starting businesses, offers a "sedate shelter" from stock-market volatility. Jimubox.com sent a message to clients saying that equities are going "insane" and offering cash incentives for investment.
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